millionair

got a letter from AMEX that my application is rejected.

so i called them to ask for reason,they simply told me that i dont match their criteria.

Okay, that's it! Soooo borrrring. Couldn't even finish reading it. No more Glitterman for me. I make my solemn pledge to NEVER open another post that contains the name "Glitterman."

yes true.

there are lot of burmese girls working as maids,be careful if you hire burmese maids they always have visa problems.

hello again

can anyone tell me how i can check my credit rating?in thailand.

i never had any credit anywhere else.

thank you.

ok

got a call from AEON yesterday(sunday) they need my company chop on some documents.

got a call from AMEX they forget to take my sign on some papers.

went there and finished the task lets see....

ok here is an update

Today i applied in following places

with my current AC bangkok bank with 400k

saving account of kasikorn with 1.6million.

work permit exp on 11 june 2011

passport(visa) exp on 11 june 2011

company registration mentioning i am director of 6mill bhat company

share holder list mentioning my 12% share in company.

AMEX-

AEON

KTC.

respected mods,

i will request you to keep this topic open as i will be posting my experience about credit cards.

i might not be successful,but some of my information might help others.

thank you.

i am using blackberry 9700 and service from DTAC.

can i use skype on my blackberry?

I guess most high street shops would have it, but if you're the adventurous type or just like gadgets, a visit to Hong Kong is not complete without a visit to Golden Computer Arcade. Take the MTR (subway) to Sham Shui Po and the center is just as you get up on the street. Google "Golden Computer Arcade Hong Kong" for several websites about it.

monk kok (if i spelled right)

is it for jamesons pattaya or bangkok?

sound financial management would suggest that using credit cards for daily living expense is surely not exactly the purpose of credit cards....

anyway that is only a one man opinion....

being able to spend 100k a month for daily living expense and desiring higher credit limit yet to finance more spending for yourself and/or girlfriend just does not make economic sense to me....

well, come to think of it.... if you have sufficient cash flow to pay off each month.... who is to say that it is not economically sound....

when thai banks deem you have sufficient resources to cover the monthly credit limit.... or that your fixed savings far exceed the credit limit you request.... you won't have any problem....

my nephew visited me at vail in 1986, he showed me11 gold cards from different thai banks.... each bank granted him 10mil credit limit....

in 2006, some twenty years later.... he only carry three credit cards.... he said he is older and wiser now.... all the banks want him to do is.... encouraging him to spend more and more....

so he will end up with less and less in his savings each month.... LOL

if you are sure that you have enough financial resources and disposable income to cover the recurring expenditure, perhaps within the limit of 30% of total income...., go and apply for as many credit cards as you wish.... and each bank will surely grant your wish.... without exception....

well, really it is none of my biz.... a penny saved is surely a penny earned, my thaivisa friend.... :jap:

Using credit wisely can be a very good investment in your future. I was a banker in the US, and I always advised my clients to establish and maintain good credit now, so that in the future, if you need credit, it will be readily available. By having several years of good credit history with a bank, they will often be willing to make special concessions to extend you credit for things such as a house, car, new business, etc. They will also extend those concessions if you are a personal banking customer and wish to become a business banking customer, and vice versa.

Also, the way your credit score works, at least for the 3 major credit reporting bureaus in the US, the more credit you have available to you and the LESS of that credit you carry every month, the higher your score will be. That is why you should never cancel credit lines, including credit cards. For example, if I have 1 million baht available to me in credit, and I carry a 100000 baht debt load each month, my debt ratio is 10%, but if I were to cancel/close 800000 of accounts and still carry 100000 in monthly debt, my debt ratio just jumped to 50% (100000 of 200000). All banks will frown on this, and may deny you credit.

As to the OP's question, as long as he is responsible and pays his balance off each month, his credit will improve by having multiple lines of credit, used or unused. It will lower his debt ratio. Having credit and not using it shows that he is responsible with his spending decisions. It also shows he can resist the temptation to spend beyond his means. You may take a small initial dip in your credit rating score, but it will recover in a month or so of good payment history. BUT, do not apply with too many banks concurrently. It does show something is changing. I would suggest no more than 3. Also, can you justify to a bank officer what you are intending? No new debt coming, no loss of income expected, not skipping the country, etc. Also, you could spread the applications over several months, applying for 1 or 2 new accounts now and then applying for 1 or 2 new ones in several months. This raises less red flags.

Hope this helps.

Thank you sir,this helps a lot,taking your advice i will apply only in 2 banks first and lets see how it goes.

thanks for all inputs.

i have 3 months credit history with k bank,and always pay in full even if i am allowed to pay only 10% of my bill.

what you guys think?this will help?

any advice is welcome.

hello members

well i know credit card issues have been discussed lot many times here.

to be honest i use credit card to support my finance and travelling,i have my own company here and all the needed documents to get a credit card,

i already have kasikorn credit card with limit of 100K.but this is not enough for me.

as credit card procding takes about month(aprox),

just to get collective result i was thinking to apply in many banks at 1 time.what can be negative effect here?will they have record that i have applied in many banks togather?will this show that i am very desperate for credit?etc....

hope to get some helpful reply.

english is not my first language hope my post is clearly understood.

Thank you very much.

If you're working in Thailand the best way to save money is by contributing to a Retirement Mutual Fund (RMF) or Long-Term Equity Fund (LTF). Check out major bank websites.

You can contribute up to 15% of your taxable income to RMF and up to 15% to LTF, making a total of 30%.

The main advantage is that anything you contribute is deductible from your taxable income.

If you are making more that 1 million baht a year 30% of anything over that amount is what you pay in tax, so you get a big refund on your next income tax return - doubtful the stock market will go down by more than 30% over several years, so it's hard to lose.

For RMF you must contribute every year (minimum 5,000 Baht), and cannot withdraw money until you are 55.

For LTF only initial contribution required, but must be held for 5 calendar years (even 1 day counts as a calendar year, so if you contibute in Dec 2010 you can withdraw in Jan 2015.

For RMF and LTF capital gains are not taxable.

You can also purchase a savings account / life insurance plan, and up to 100,000 baht is deductible from taxable income. The return on these plans is not great - about the same as an ordinary Thai bank account - but again the main advantage is the tax savings.

Thanks that helps,i will check with banks.

hello all

i am working in Thailand since 6 years,and i have decided to spend my life in thailand,i am 27 years old,i would like to take a good retirement or pension plan in Thailand,so that my old days are secure and i don't have to depend on anybody.

so can anyone advice me on this please.

Hello all

i have blackberry 9700,and package from DTAC 650 bht monthly.

i want to connect my BB to my laptop and use internet on my laptop.is it possible?

any ideas how can i do that?

Just did it with my Camry, pick it up tomorrow. The car place will arrange the loan if you want, Toyota did with kasakorn bank, Kasakorn will fill out the paperwork etc. you need to be in Thailand for some time, don't know how much, 4 years for me. You need a Thai to co-sign. You need to have a bank account [mine with BB. I got my loan for my car in place

thanks this will help.

excellent

well i am not married yet,so forget about thai partner optionwhat are my chances if i go stright to bank,i have more than 1 mill transection every month with kasikon

sorry, no car loans for farangs. you need to pay full amount of car price. TIT.

crap.i need serious reply

hello members

i want to how to take car loan from bank?

i have work permit,saving account with kasikorn,but never took any loan or credit card so far,(its just i dint need one)

want to know A-Z about car loan,before i go and ask my bank.

any advice is welcome.

just go to consumer court,this goes very fast in thailand,within a week you will here from the court.

i will have my first drink about 5 pm,thats the regular time for me.